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Oil Prices Rise Amid Trump's Defense Production Act
U.S. President Donald Trump invoked the Defense Production Act to support domestic oil production and refining, causing oil prices to rise. In contrast, gold, silver, and copper prices fell. Brent crude rose to $113.17 per barrel, while U.S. West Texas Intermediate (WTI) gained to $99.47. Trump cited funding problems, delays in permits, infrastructure limitations, and supply-chain issues as obstacles to increasing U.S. energy production. Gold fell to $4,060.40 per ounce, silver dropped to $55.01, copper declined to $6.398 per pound, and platinum lost to $1,576.90.